Skip to main content.
Link to CEFCU Home Page

If you are using a screen reader or other auxiliary aid and are having problems using this website, please contact us at 1.800.633.7077.

Visit our accessibility help page.

Health Savings Account

Choose the convenience of a Health Savings Account (HSA) where you have your other accounts!

HSAs

Open a CEFCU HSA to help manage the costs of a High-Deductible Health Plan*. Keep funds from year to year — even if you change jobs, medical coverage, or marital status — plus enjoy tax advantages.*

Access funds through a CEFCU HSA Debit Mastercard®, online, or at any Member Center to pay qualifying medical expenses:*

  • Chiropractor
  • Dental and Vision Care
  • Lab fees
  • Office visit co-pays
  • Prescription drugs
  • Surgery
  • And more

You cannot use HSA funds to pay for expenses incurred prior to opening the account. 

Just contact CEFCU or visit a Member Center to open your HSA today! Or, request your New Account kit online.

HSA Debit Card

HSA Debit Mastercard

There’s an easier way to use your HSA funds — the free CEFCU HSA Debit Mastercard. 

You can use your HSA Debit Card wherever Mastercard, Cirrus®, or Maestro® are accepted. Plus, there's Zero Liability** on qualifying purchases.

HSA Contribution Limits

Contribution Deadline: You have until the tax-filing deadline (generally April 15) of the following year to make allowable contributions.

There is no annual fee if your average daily balance is $2,500 or more.

For more detailed information on HSA plans and taxes, visit the IRS website or talk with your tax advisor.

HSA Advantages

Take a look at what HSAs offer you! HSAs…

Save You On Taxes

If they are used for qualified medical expenses.

Cover Expenses

Including medical, dental, and vision care.

Go With You

If you change jobs or medical coverage.

Roll Over

To the next year if you don’t use all the savings.

Health Saving Account FAQs

  • Are contributions (deposits) tax deductible?

    Yes. Health Savings Account contributions made by an eligible individual or his/her family members are deductible by the eligible individual when determining his/her adjusted gross income. The individual cannot also deduct the contributions as medical expense deductions.

  • Are there fees?

    There is a $25 fee if the minimum average daily balance falls below $2,500. A minimum average daily balance of $2,500 based on the combined average daily balance of all CEFCU share accounts in your Health Savings Account ("HSA") at CEFCU, starting on the first anniversary of the date you opened your HSA and continuing each anniversary year thereafter is required to avoid a service fee, as set forth on the CEFCU Fee Schedule ("HSA Annual Fee") on savings accounts for the anniversary year. If applicable for any anniversary year, the HSA Annual Fee of $25 will be charged on the first day of the next succeeding anniversary year.

Request your New Account kit today!

Features & Benefits

Online Banking

Check balances, transfer money, and more 24/7.

eStatements

Go green and enjoy convenient, secure statement access.

Debit Card

Get cash and make purchases worldwide.

*Consult your tax advisor for help determining your eligibility to open an HSA and your allowable contributions and withdrawals. As custodian/trustee of your HSA, CEFCU is not responsible for determining your allowable contribution amounts or whether distributions are used for qualified medical expenses. Your total contributions and withdrawals are reported annually to the IRS.

HSAs were developed by Congress for consumers with high-deductible health plans. If you are not enrolled in Medicare, you can use tax-free savings to pay for current or future qualified medical costs.

**Zero Liability: Pay only for purchases which you have authorized on your Mastercard card. Unauthorized purchases are not your responsibility. Conditions and exceptions apply. Get Details.

†Your personal contribution limit may be lower than Internal Revenue Code maximums. Individuals are responsible for monitoring their contributions limits — CEFCU does not monitor it. Consult your tax advisor with questions about how limits apply to your situation. Contributions may be subject to state taxes in some states. The annual contribution limit includes employer contributions.

††Catch-up Contributions (55+): Eligible individuals over the age of 55 are allowed to make additional catch-up contributions to their HSAs. The catch-up amount is $1,000. If you turn 55 during the year, you can contribute the full $1,000.